Learn how to retire early with the FIRE Method (Financial Independence Retire Early). Eric Richards of Nomad on Fire podcast explains how you can become financially and location-independent even if you're a big spender, new to investing or "bad" at math and budgeting.
You'll also find out the three most effective ways to save money, how to become financially independent while a location-independent digital nomad, the best travel credit cards, what the cost-of-living is in Bali and Medellín, and more.
TOPICS DISCUSSED:
- Bali reopening and cost-of-living
- What is the FIRE method and 4% rule?
- How much do you need to save to retire early?
- How long does it take to achieve FIRE?
- Different approaches to the FIRE method and passive income (cash flow or draw down approach)
- Quitting your corporate job
- Burnout and work-life balance
- How Eric saved money while a employed full-time
- How to avoid lifestyle inflation
- Geo-arbitrage
- How to balance your job and side hustle
- How to stay productive and organize your time when you work for yourself
- How to balance ambition with happiness
- How to figure out what you want from life
- Living in Medellin, Colombia and monthly cost-of-living
- Remote Year - is it worth it?
- What should you do once you have it "all?" What’s next in life after achieving financial and location independence?
SHOW NOTES & RESOURCES
- FIRE Method
- Remote Year
- When is Bali Reopening?
- Which Countries Can Americans Travel To?:
- Related podcast episodes:
- Ayodeji Awosika (F*k-you money)
- Greg Caplan, Founder of Remote Year
- Matt Bowles, Host of the Maverick Show
- Parkinson’s Law
- Wealthfront Robo-Investor
CONNECT WITH ERIC
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Ridiculous History
History is beautiful, brutal and, often, ridiculous. Join Ben Bowlin and Noel Brown as they dive into some of the weirdest stories from across the span of human civilization in Ridiculous History, a podcast by iHeartRadio.